Thursday, August 13, 2009

Retail Sales Post Surprise Drop, While Jobless Claims Rise

Talking down the economy? Nope, just the facts ma'am.
Sales at U.S. retailers unexpectedly fell in July from June, a government report showed on Thursday, casting a shadow over an anticipated rebound in consumer spending in the third quarter.

First-time jobless claims also rose unexpectedly to 558,000.

The Commerce Department said total retail sales edged down 0.1 percent from increasing a revised 0.8 percent in June.

Sales in June were initially reported to have risen 0.6 percent

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